Intercontinental Exchange, the parent company of the New York Stock Exchange, is set to explore new products using Circle’s USDC stablecoin and USYC tokenized money market fund. USDC, the second-largest stablecoin, boasts a $60 billion market capitalization and is fully backed by U.S. government securities and cash-equivalent assets. USYC, on the other hand, is a tokenized money market fund issued by Hashnote, which Circle acquired earlier this year. The collaboration aims to integrate these digital assets into derivatives exchanges, clearinghouses, and other services. This move reflects a broader trend among U.S. financial giants, as seen with Fidelity Investments filing to launch a tokenized money market fund and CME Group testing tokenization with Google Cloud.
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